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Property Auctions loveitts.co.uk PROPERTY AUCT IONS Thursday 30th March 2017 6.30pm (open from 5.30pm) Village Urban Resort Hotel, Dolomite Ave Canley, Coventry CV4 9GZ Important Notice to Bidders 1. The attention of prospective purchasers is drawn to the general and special conditions of sale which are available for inspection at the of fice of the Vendors Solicitors and at the office of the Auctioneers, plus any addendums that are issued prior to or on the night of the auction. 2. Prospective purchasers shall be deemed to have inspected the relevant property. The vendor’s solicitors will provide a contract pack including the usual necessary searches and enquiries with all relevant authorities and other bodies. This is available for inspection at the Auctioneers office, during normal business hours. It is advisable to arrange for a survey of the property prior to the Auction. 3. As soon as the Auctioneers gavel falls on a bid, the successful bidder is under a binding contract to purchase the relevant property. The purchaser is immediately at risk in relation to the property and should therefore have confirmed bank or building society finance arranged (if required) and will also be deemed to have made prior arrangements for any insurance cover that is required. Completion will occur 28 days after exchange, unless otherwise specified. 4. On a property being knocked down, the successful bidder must immediately present to the Auctioneers Clerk his name and address and if appropriate, the name and address of the person or company on whose behalf he has been bidding, also the 2 forms of identification requested concerning the Money Laundering Act 2007 - this information is detailed separately. 5. The successful bidder must sign and exchange contracts with the Vendors Solicitors prior to leaving the room and at the same time pay to the Solicitor a deposit of 10% of the purchase price plus the Buyer’s Premium. In default of any of the above, the Auctioneer shall be entitled as Agent for the Vendors, to treat the failure or default as repudiation and rescind the contract. Thereafter the Auctioneer shall be entitled to re-submit the property for sale and if a successful bidder does not pay a deposit and/or complete the memorandum the Vendor reserves the right to claim any loss he suffers as a result. 6. The Vendor has a right to sell before Auction or withdraw the Lot and neither the Auctioneer nor the Vendor is responsible for any abortive costs, loss or damages incurred by a prospective purchaser in these circumstances. Information as to prior sale or the withdrawal of a Lot can be obtained from the Auctioneers at any time prior to the Auction but vaild only at the time of enquiry. 7. Prospective purchasers are strongly advised to check any sales particulars as to measurements, areas and all other matters to which the properties are expressed to be subject to and have the benefit of. In respect of any contents,fixtures and fittings, expressed to be included within the sale an inspection of the property must be made, and the Legal Information provided by the vendors solicitors must be inspected. All measurements and areas referred to in this catalogue are approximate only. 8. All location plans published in the particulars of sale are to enable prospective purchasers to locate the property only. The plans are photographically reproduced and therefore not to scale and are not intended to depict the interest to be sold but are for identification purposes only. The boundary lines and numbers on the photographs are again only to enable prospective purchasers to locate the property and are not intended to depict the interest to be sold. Purchasers are advised to view the special conditions in respect of the precise interest to be conveyed. 9. Any guide prices or any estimates or values mentioned in negotiations or discussions with the Auctioneers or any of their representatives cannot be relied upon by a prospective purchaser as representing professional valuations for any purpose in accordance with the requirements on guidance notes of relevant professional bodies or other authorities. In all respects prospective purchasers are deemed to have relied upon their own knowledge or the advice of their own professional or other advisors. 10. Guide Price ranges are provided as an indication of the sellers minimum expectations. They are not necessarily figures that the property will sell for and may change at any time prior to the auction. Each property will be subject to a Reserve Price which is the figure below which the auctioneer cannot sell the property below, at auction. The reserve price will be no higher than the upper end of the Guide Price range. 11. Bids may be refused at the Auctioneer’s discretion. The Auctioneers reserve the right to bid on behalf of the Vendor up to the reserve. 12. Inspection of investment properties is courtesy of the tenant. Inspection of properties with vacant possession only by arrangement with the Auctioneers. Interested parties should ring the office to discuss viewing arrangements or book keys before making their journey. 13. Properties sold at auction are not normally cleared of furniture and effects on completion. 14. Property Insurance: Please refer to contract information for confirmation as to the responsibility of insurance of the property in between exchange and completion. For further guidance to Buying at Auction please visit our website: loveitts.co.uk. Important Information - Identification and payment The sucessful bidder must provide 2 forms of identification and pay their 10% deposit (minimum £2,000), plus buyers premium. Contracts are signed on the night of the auction and a legal binding contract is formed on the fall of the hammer. Money Laundering Regulations Proof of identity - one of the following • Current signed passport • Current full UK EU photo card driving licence, NOT a provisional driving licence Plus Proof of Address - one of the following • Utility bill issued within the last three months (gas, electricity, council tax, telephone, water rates but NOT mobile phone) • Bank or Building Society statement Please note that only the above documents will be accepted at the auction venue. In Addition • If a bidder is acting as an agent on behalf of another party, they will be required to provide the documents detailed above for both themselves (the agent) and the principal, as well as providing a valid letter of authority from the principal authorising them to bid on their behalf. • If a bidder is acting on behalf of a company, the above documents will still be required along with a written authority from the company. Failure to comply with the above could invalidate your bid and purchase of any Lot. £ Buyers Premium and Deposit The successful purchaser will be required to pay the Auctioneer a buyer’s fee upon exchange of contracts, as well as their 10% deposit (minimum £2,000). Guide Price Buyers Premium Up to £20,000 £450 (inc VAT) Up to £250,000 £600 (inc VAT) £250,001 + £840 (inc VAT) Payments can be made with debit card, bankers draft, building society cheque, personal cheque (credit cards or cash will not be accepted). Conditions of Sale/ Legal Information The Lots will, unless previously withdrawn, be sold subject to the RICS Special and General Conditions of Sale which have been prepared by the Vendors’ Solicitors. These Conditions along with all prepared Legal Information is available via Loveitts website and all parties wishing to inspect a Legal Pack can register their details on the site. The legal packs are available via a service provided by The Essential Information Group Ltd, which will not only allow the download of the Legal Pack but will also keep you updated with any changes to the pack. Please note however that it is the responsibility of all bidders to recheck the Legal Packs for any changes prior to bidding, and the Auctioneer can accept no responsibility for any bidders not adhering to this advice.The Purchaser shall be deemed to bid on those terms, whether he shall have inspected the Conditions or not. For any queries regarding the process of buying at Auction please do not hesitate to contact the Auction Team on 024 7652 7789 or visit our website: loveitts.co.uk Auction Venue PROPERTY AUCTIONS Thursday 30th March 2017 Starting at 6.30pm Village Urban Resort Hotel, Dolomite Avenue, Canley, Coventry CV4 9GZ Road directions: 1 mile from A45, 8 miles from M42 J6, 3 miles from A46 Nearest train station: Coventry Station: (2 miles) BROADBROAD LANE A45 BROAD LANE OLD COVENTRIANS RUGBY FOOTBALL CLUB TILE HILLHILL LANE RSALL LANE B4101 HEARSALLHEA LANE B4101B4101 FLETCHAMSTEADF HWY L CITROEN VILLAGE URBAN E COVENTRY T RESORT HOTEL C HEARSALL HAMSTEAD HWY D O ROAD 4101 B4101 L B4101B O COMMON M I RENOWN AV T E ABENA UK A CANLEY ROAD V ENUE E MULTIMATIC N U SAINSBURY’S E COMAG FORWARD A45 PALMET & HARVEY The Team Kendall Head Sally Smith Sara Herbert Jodie Bond John Pugh Director and Auctioneer Auction Manager and Auction Co-ordinator Administration and Commercial Director Associate Director Legal Co-ordinator Chris Corbishley - Chris Priestley Mark Turner Dean Davies Paul Barnes Forbes Coventry Leamington Spa Southam Lettings Manager & Head of Residential Sales Branch Manager Branch Manager Associate Director Nuneaton & Bulkington Branch Manager For further information on any of the Lots offered please do not hesitate to contact us on 024 7652 7789 or visit our website at loveitts.co.uk Frequently Asked Questions What is a guide price? The guide price is an indication of the sellers’ minimum expectation. It is not a valuation or a figure at which a lot will sell for and may change at any time prior to auction.
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